Neha Juneja is surprised that her com- pany Greenway Grameen Infra won the 2012 Intel Global Challenge at
Haas School of Business, University of
California, Berkeley, receiving $50,000 from
the Intel Foundation November 9.

The Intel Global Challenge is a joint project of Intel and the UC Berkeley Lester
Center for Entrepreneurship. Started in
2005, it rewards student entrepreneurs for
innovative ideas that can make a positive
impact on society.

The Intel Foundation awards a total of
$100,000 in cash prizes — $50,000 to the
best team, followed by $15,000 each to the
three best-of-category winning team, and
$2,500 each to a social media challenge and
an audience favorite contest.

Greenway Grameen Infra — selected from
ideas presented by more than 150,000 students from more than 50 countries — was
founded in 2010.

In late 2011, the company won the
Businessworld Young Entrepreneur Award.

Juneja, 27, co-founder and chief executiveofficer, told India Abroad, “I was surprisedbecause the other participants were verygood. All of them had unique ideas, so I wasa little nervous. It’s like getting a dreamaward. This award is very important. Very!”“Not only was it great exposure for us interms of the platform and interaction withother participants, we also had an opportu-nity to better articulate our business propo-sition given the structure and stages of thecompetition.”This award, she believes, will help herbuild credibility in India, especially becausedoing business there is very difficult for ayoung company.

However, she adds, the system in India has
become a lot better: “Had we started this five
years ago, it would have been much tougher.”
Juneja came up with the idea of developing the Greenway stove after a visit to a village in Wardha, Maharashtra, where she saw

a small home with a television, refrigerator,mobile phones, and motorbike. Yet the ladyof the house was cooking on a mud stove.

the week that was

They made the partner cut atGoldman SachsThe list of new Goldman Sachs partners is out and amongthe 70 new ‘partnership managing directors’ are someCiti pays Pandit $6.7 million bonusCitigroup has paid Vikram Pandit, its former chief execu-tive officer who resigned abruptly last month, a bonus of$6.7 million for work he did for the bank this year, the bankhas disclosed in a regulatory filing.

Indian-origin names. Vivek Bantwal, Amol Naik and
Gaurav Seth are among those picked after an intense and
secretive two-year selection process. They will become partners of the firm as of January 1.

The Information Technology Investment Region proposed to be developed in Hyderabad in two phases over a
period of 25 years, will create an employment potential of
1.5 million. The ITIR will have over 50,000 acre of IT and
ITeS area.

Indian government to handholdstressed sectorsFinance Minister P Chidambaram has said the govern-ment will work out a strategy to assist industry segmentsreeling under the impact of an economic slowdown.

China to overtake India in goldimportsEven as demand for gold picked up in India during thequarter ended September, China may still become thelargest importer of the metal by the end of this year, over-taking India marginally, the World Gold Council said.